Europe Low-Speed Electric Vehicle Market Forecast to 2030 - Regional Analysis - by Product (Passenger Vehicle and Utility Vehicle), End User (Golf Courses, Hotels & Resorts, Airports, Residential & Commercial, Premises, and Others), and Vehicle Type (Golf Carts, Commercial Turf Utility Vehicles, Industrial Utility Vehicles, and Personal Mobility Vehicles)
Increasing Government Support for Electric Vehicles Fuels Europe Low-Speed Electric Vehicle Market
The transportation industry is one of the major contributors to air pollution. Governments of different countries focus on mitigating the carbon emission level to safeguard the environment from pollution. Among many initiatives to protect the environment, one key strategy is to boost the usage of electric vehicles that do not discharge harmful gases. The EU aims for at least 30 million electric cars to be on the road by 2030. The EU has set a number of goals in order to accomplish this goal, including Emissions Reduction: Between 2021 and 2030, the EU wants to cut the CO2 emissions from new cars by 55%. A number of EU governments are offering subsidies, tax benefits, and charger incentives to encourage the purchase of EVs. For instance, the current EV incentive in France offers a subsidy of between ~US$ 5400 and US$ 7,500 (based on household income) to private and business buyers for an electric vehicle that weighs less than 2.4 tons and costs up to ~US$ 50,500. In the UK, the government awarded EV grants such as EV charge point grants and infrastructure grants. Thus, the increasing government focus and support for boosting the usage of electric vehicles over fossil fuel-driven vehicles by enhancing the overall electric vehicle infrastructure is one of the major driving factors for the low-speed electric vehicle market.
Europe Low-Speed Electric Vehicle Market Overview
The European Union has taken significant steps to address carbon emissions in the automotive sector. In March 2023, new CO2 standards were adopted for cars and vans, mandating a 55% reduction in emissions for new cars and a 50% reduction for new vans by 2030 compared to 2021 levels, with a target of achieving 100% reduction for both by 2035. Additionally, the European Union introduced the Net Zero Industry Act, which aims to have nearly 90% of the EU's annual battery demand met by EU battery manufacturers. This includes achieving a manufacturing capacity of at least 550 GWh by 2030. While Europe accounts for over one-quarter of global EV production, it has limited involvement in the EV supply chain, with the exception of cobalt processing at 20%. Despite this, the well-established EV market in Europe, coupled with these ambitious regulatory initiatives, is driving the growth of the low-speed electric vehicle market in the region.
Europe Low-Speed Electric Vehicle Market Revenue and Forecast to 2030 (US$ Million)
Europe Low-Speed Electric Vehicle Market Segmentation
The Europe low-speed electric vehicle market is bifurcated based on product, end user, vehicle type, and country. Based on product, the Europe low-speed electric vehicle market is bifurcated into passenger vehicle and utility vehicle. The passenger vehicle segment held a larger market share in 2022.
In terms of end user, the Europe low-speed electric vehicle market is segmented into golf courses, hotels & resorts, airports, residential & commercial, premises, and others. The golf courses segment held the largest market share in 2022.
By vehicle type, the Europe low-speed electric vehicle market is segmented into golf carts, commercial turf utility vehicles, industrial utility vehicles, and personal mobility vehicles. The golf carts segment held the largest market share in 2022.
Based on country, the Europe low-speed electric vehicle market is segmented into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK dominated the Europe low-speed electric vehicle market share in 2022.
Navya SA, Nimos BV, Yamaha Motor Co Ltd, Anhui Airuite New Energy Special Purpose Vehicle Co Ltd, John Bradshaw Ltd, Xiamen Dalle Electric Car Co Ltd, Tomberlin, FLORA Wilh Foerster GmbH & Co KG, Renault SA, Deere & Co, Squad Mobility BV, Clean Motion AB, Citroen UK Ltd, Goupil Industrie SA, Lohr SA, Daedong-USA Inc KIOTI Tractor Division, Melex Sp zoo, KG Automobile SAS, My Electric Vehicle Ltd, Polaris Inc, Swincar SARL, EasyMile SAS, Lift Safe Ltd, Paxster AS, Estrima SpA, Italcar Industrial Srl, X RAAM SRL, and Columbia Vehicle Group Inc are some of the leading companies operating in the Europe low-speed electric vehicle market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Low-Speed Electric Vehicles Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers/Component Suppliers:
4.3.2 Low-Speed Electric Vehicles Manufacturers:
4.3.3 End Users:
5. Europe Low-Speed Electric Vehicles Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Concerns Regarding Greenhouse Gas Emission
5.1.2 Increasing Government Support for Electric Vehicles
5.1.3 Rising Affordability of Electric Vehicles
5.1.4 Phasing Out of Internal Combustion Engines
5.2 Restraints
5.2.1 Operational Limitations of Battery-operated Electric Vehicles
5.2.2 High Initial Expenditure
5.3 Opportunities
5.3.1 Usage of Low-speed Electric Vehicles in Different Sectors
5.3.2 Increasing Job Opportunities in EV Manufacturing Facilities
5.4 Future Trends
5.4.1 Advent of Lithium-ion Phosphate and Sodium-ion Batteries for Electric Vehicles
5.5 Impact of Drivers and Restraints:
6. Low-Speed Electric Vehicles Market - Europe Market Analysis
6.1 Europe Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 - 2030
6.2 Europe Low-Speed Electric Vehicles Market Forecast and Analysis
7. Europe Low-Speed Electric Vehicles Market Analysis - Product
7.1 Overview
7.1.1 Low-Speed Electric Vehicles Market, by Product (2022 and 2030)
7.2 Passenger Vehicle
7.2.1 Overview
7.2.2 Passenger Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Utility Vehicle
7.3.1 Overview
7.3.2 Utility Vehicle Market, Revenue and Forecast to 2030 (US$ Million)
8. Europe Low-Speed Electric Vehicles Market Analysis - End User
8.1 Overview
8.1.1 Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
8.2 Golf Courses
8.2.1 Overview
8.2.2 Golf Courses Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Hotels & Resorts
8.3.1 Overview
8.3.2 Hotels & Resorts Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Airports
8.4.1 Overview
8.4.2 Airports Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Residential & Commercial Premises
8.5.1 Overview
8.5.2 Residential & Commercial Premises Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
9. Europe Low-Speed Electric Vehicles Market Analysis - Vehicle Type
9.1 Overview
9.1.1 Europe Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
9.2 Golf Carts
9.2.1 Overview
9.2.2 Golf Carts Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Commercial Turf Utility Vehicles
9.3.1 Overview
9.3.2 Commercial Turf Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Industrial Utility Vehicles
9.4.1 Overview
9.4.2 Industrial Utility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Personal Mobility Vehicles
9.5.1 Overview
9.5.2 Personal Mobility Vehicles Market Revenue, and Forecast to 2030 (US$ Million)
10. Europe Low-Speed Electric Vehicles Market - Country Analysis
10.1 Europe
10.1.1 Overview
10.1.2 Europe Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis - By Country
10.1.2.1 Europe Low-Speed Electric Vehicles Market Revenue and Forecasts and Analysis - By Country
10.1.2.2 Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 Germany Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.2.2 Germany Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.2.3 Germany Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.3 France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 France Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.3.2 France Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.3.3 France Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.4 Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 Italy Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.4.2 Italy Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.4.3 Italy Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.5 UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.5.1 UK Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.5.2 UK Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.5.3 UK Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.6 Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.6.1 Russia Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.6.2 Russia Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.6.3 Russia Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
10.1.2.7 Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.7.1 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by Product
10.1.2.7.2 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by End User
10.1.2.7.3 Rest of Europe Low-Speed Electric Vehicles Market Breakdown by Vehicle Type
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 Navya SA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Nimos BV
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Yamaha Motor Co Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Anhui Airuite New Energy Special Purpose Vehicle Co Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 John Bradshaw Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Xiamen Dalle Electric Car Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tomberlin
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 FLORA Wilh Foerster GmbH & Co KG
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Renault SA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Deere & Co
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Squad Mobility BV
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 Clean Motion AB
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 Citroen UK Ltd
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Goupil Industrie SA
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Lohr SA
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
12.16 Daedong-USA Inc KIOTI Tractor Division
12.16.1 Key Facts
12.16.2 Business Description
12.16.3 Products and Services
12.16.4 Financial Overview
12.16.5 SWOT Analysis
12.16.6 Key Developments
12.17 Melex Sp zoo
12.17.1 Key Facts
12.17.2 Business Description
12.17.3 Products and Services
12.17.4 Financial Overview
12.17.5 SWOT Analysis
12.17.6 Key Developments
12.18 KG Automobile SAS
12.18.1 Key Facts
12.18.2 Business Description
12.18.3 Products and Services
12.18.4 Financial Overview
12.18.5 SWOT Analysis
12.18.6 Key Developments
12.19 My Electric Vehicle Ltd
12.19.1 Key Facts
12.19.2 Business Description
12.19.3 Products and Services
12.19.4 Financial Overview
12.19.5 SWOT Analysis
12.19.6 Key Developments
12.20 Polaris Inc
12.20.1 Key Facts
12.20.2 Business Description
12.20.3 Products and Services
12.20.4 Financial Overview
12.20.5 SWOT Analysis
12.20.6 Key Developments
12.21 Swincar SARL
12.21.1 Key Facts
12.21.2 Business Description
12.21.3 Products and Services
12.21.4 Financial Overview
12.21.5 SWOT Analysis
12.21.6 Key Developments
12.22 EasyMile SAS
12.22.1 Key Facts
12.22.2 Business Description
12.22.3 Products and Services
12.22.4 Financial Overview
12.22.5 SWOT Analysis
12.22.6 Key Developments
12.23 Lift Safe Ltd
12.23.1 Key Facts
12.23.2 Business Description
12.23.3 Products and Services
12.23.4 Financial Overview
12.23.5 SWOT Analysis
12.23.6 Key Developments
12.24 Paxster AS
12.24.1 Key Facts
12.24.2 Business Description
12.24.3 Products and Services
12.24.4 Financial Overview
12.24.5 SWOT Analysis
12.24.6 Key Developments
12.25 Estrima SpA
12.25.1 Key Facts
12.25.2 Business Description
12.25.3 Products and Services
12.25.4 Financial Overview
12.25.5 SWOT Analysis
12.25.6 Key Developments
12.26 Italcar Industrial Srl
12.26.1 Key Facts
12.26.2 Business Description
12.26.3 Products and Services
12.26.4 Financial Overview
12.26.5 SWOT Analysis
12.26.6 Key Developments
12.27 X RAAM SRL
12.27.1 Key Facts
12.27.2 Business Description
12.27.3 Products and Services
12.27.4 Financial Overview
12.27.5 SWOT Analysis
12.27.6 Key Developments
12.28 Columbia Vehicle Group Inc
12.28.1 Key Facts
12.28.2 Business Description
12.28.3 Products and Services
12.28.4 Financial Overview
12.28.5 SWOT Analysis
12.28.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
List of Tables
Table 1. Low-Speed Electric Vehicles Market Segmentation
Table 2. Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) - Product
Table 4. Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) - End User
Table 5. Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Million) - Vehicle Type
Table 6. Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - By Country
Table 7. Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 8. Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 9. Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 10. France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 11. France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 12. France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 13. Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 14. Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 15. Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 16. UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 17. UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 18. UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 19. Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 20. Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 21. Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 22. Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Product
Table 23. Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - End User
Table 24. Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn) - Vehicle Type
Table 25. List of Abbreviation
List of Figures
Figure 1. Low-Speed Electric Vehicles Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Low-Speed Electric Vehicles Market
Figure 4. Low-Speed Electric Vehicles Market - Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Europe Low-Speed Electric Vehicles Market Revenue (US$ Million), 2022 - 2030
Figure 7. Low-Speed Electric Vehicles Market Share (%) - Product, 2022 and 2030
Figure 8. Passenger Vehicle Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Utility Vehicle Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Low-Speed Electric Vehicles Market, by End User (2022 and 2030)
Figure 11. Golf Courses Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Hotels & Resorts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Airports Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Residential & Commercial Premises Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Europe Low-Speed Electric Vehicles Market, by Vehicle Type (2022 and 2030)
Figure 17. Golf Carts Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Commercial Turf Utility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Industrial Utility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Personal Mobility Vehicles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Europe Low-Speed Electric Vehicles Market, by Key Countries - Revenue (2022) (US$ Million)
Figure 22. Low-Speed Electric Vehicles Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 23. Germany Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. France Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. Italy Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. UK Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 27. Russia Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 28. Rest of Europe Low-Speed Electric Vehicles Market Revenue and Forecasts to 2030 (US$ Mn)
1. Navya SA
2. Nimos BV
3. Yamaha Motor Co Ltd
4. Anhui Airuite New Energy Special Purpose Vehicle Co Ltd
5. John Bradshaw Ltd
6. Xiamen Dalle Electric Car Co Ltd
7. Tomberlin
8. FLORA Wilh Foerster GmbH & Co KG
9. Renault SA
10. Deere & Co
11. Squad Mobility BV
12. Clean Motion AB
13. Citroen UK Ltd
14. Goupil Industrie SA
15. Lohr SA
16. Daedong-USA Inc KIOTI Tractor Division
17. Melex Sp zoo
18. KG Automobile SAS
19. My Electric Vehicle Ltd
20. Polaris Inc
21. Swincar SARL
22. EasyMile SAS
23. Lift Safe Ltd
24. Paxster AS
25. Estrima SpA
26. Italcar Industrial Srl
27. X RAAM SRL
28. Columbia Vehicle Group Inc